How Much Can You Save With a Heat Pump?

One of the most surefire ways Atlantic Canadians can reduce their winter heating bills (other than by turning off the heat and putting on a sweater) is by installing one or more heat pumps in their homes. However, every home and family is different, and if you want to get a better sense of how much heat pumps will cost you and how much they’ll save, you should ask yourself the following questions.

How Much are You Spending Now?

Obviously, the biggest factor in your heating cost is your source of heating. If you’re heating your home with an oil furnace, your heating bills are going to vary based on the fluctuating costs of oil, and switching from a furnace to a heat pump will mean switching from oil to electricity. If your home has electric baseboard heaters, then switching to a heat pump means replacing or supplementing one or more of your baseboard heaters with a much more efficient heat source, but one that still uses electricity.

Whatever your source of heating, total your annual heating costs—the more you spend on home heating every year, the greater the potential for savings when you switch to a heat pump. 

How is Your Home Zoned?

When HVAC professionals talk about “zoning,” we’re referring to areas of your house that are heated separately. For example, any area of your home that has a separate thermostat to control its temperature would be considered a unique heating zone.

Depending on how your home zoning is set up, switching one or more zones from your current heat source to (for example) a single mini-split heat pump might save you more or less than the average.

For example, many families spend the bulk of their time in a single room or floor of their house. If 80% of your heating bill is going to keeping your living room and kitchen warm, then using a heat pump to heat those rooms specifically will save you more than it will if you locate the unit elsewhere in the home.

Take a look around your home and think about where you and your family spend most of your time, and it will help you get a sense of the scale of savings you could expect.

What Other Factors Influence Heat Pump Savings?

There are a huge number of factors that will influence the amount of money you will save after installing a heat pump. What temperature do you like to keep your home? How well-insulated are the rooms where you’ll be using the heat pump? How is your home laid out? Will you be purchasing a ducted central heat pump unit or mini-splits to use in separate areas of your home?

With so many factors, it takes a professional to provide an accurate estimate of the cost savings you can expect. That’s why we offer free, no obligation in-home assessments to help Atlantic Canadian homeowners determine the best options for their homes and families. If you’ve been considering switching to a heat pump, contact ATL-REFAC today to schedule your free assessment.

With thanks to Daikin Atlantic for their editorial contribution